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2025-12-31-accounts

REGISTERED CHARITY NUMBER: 1129915

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

WALTHAM ABBEY PCC

Marsh Solutions Limited 82 Berechurch Hall Road Colchester Essex CO2 8RF

WALTHAM ABBEY PCC

CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 December 2025

Page
Report of the Trustees 1 to 10
Independent Examiner's Report 11
Statement of Financial Activities 12
Balance Sheet 13
Notes to the Financial Statements 14 to 25
Detailed Statement of Financial Activities 26 to 28

WALTHAM ABBEY PCC

REPORT OF THE TRUSTEES for the year ended 31 December 2025

The trustees present their report with the financial statements of the charity for the year ended 31st December 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

The Parochial Church Council (PCC) of the Parish of Holy Cross and St Lawrence has the responsibility of co-operating with the Rector, The Reverend Peter Smith, in promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical.

The Annual Report includes the report for the Abbey Church District Church Council (DCC) which has maintenance responsibilities for the Abbey Church, Abbey Church Centre which includes the Parish Office; Abbey Gardens House and that for the Church of St Lawrence, Ninefields, which is a District Church with its own DCC, situated in Hillhouse CofE School in the Parish.

The Abbey Church being open is an important part of our welcoming mission to the townspeople but due to continuing financial constraints, it was only open on Wednesdays, Fridays and at weekends although during the Easter weekend was open on the bank holiday Monday, during the Christmas period, was open on Christmas Eve and Boxing Day and for other bank holidays during the year.

OBJECTIVES AND ACTIVITIES CHURCH ACTIVITIES AND PUBLIC BENEFIT

Public Benefit

The parish undertakes a range of activities with regard to the Charity Commission guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion.

The Abbey Church

The Abbey Church sees its primary purpose as offering a variety of opportunities for prayer and worship, whether as a community or individually. To this end, it holds a diverse range of services on Sundays and during the week and the church is open Wednesdays, Fridays, at weekends and on Bank Holidays, providing the opportunity for private prayer and for weddings and funerals on other days as required.

Seeking to develop an open and welcoming Christian community based on the building, we support groups that meet various needs of the community and offer opportunities to witness to love of God. Guided tours are offered for tourist groups and school parties.

The Abbey Church sees itself as a church for and of the community and has the Safeguarding of all who visit at the forefront of its life.

St. Lawrence Church seeks to be a living and loving church, where all are made welcome in a setting where worship is a priority and each person, knowing they are in the presence of God, feels safe and wanted.

Page 1

WALTHAM ABBEY PCC

REPORT OF THE TRUSTEES for the year ended 31 December 2025

OBJECTIVES AND ACTIVITIES Significant activities

Children and Young People

We have continued much the same this year as last with meeting twice a month in the Lady Chapel and using the table at the back of church on alternate Sundays for those who want to do colouring or a puzzle on the theme of the day.

We have an average of between 4 - 9 children each week most of who are quite young. Two of our older children have now moved on to coming to church independently which is lovely to see, although we miss them very much. We are trying to explore a little more with our lessons to give the children a wider knowledge of the bible. We did our usual chocolate stall at the Cavalcade of Light this year when we managed to raise £200. Thank you to all who generously donated to this.

Thank you once again to our clergy who encourage the children to show their crafts at the end of the services, we feel it's good for them to make something as a reminder of what they have learnt from the lesson.

We would value your prayers as we move forward this coming year, that we will continue to grow together in our love and faith in our Lord and for guidance on how we can encourage more children to attend regularly, especially as our sessions currently run twice a month.

Outreach, Fellowship, Social and Fundraising Activities

The Olive Branch café at the Abbey Church Centre continued weekly on Wednesdays throughout 2025 for light refreshments and fellowship.

The Abbey's bellringers opened the tower to the public on two occasions, coinciding with Holy Cross Day in May and King Harold Day in October, in support of the Bell Fund. Both events were very successful, with queues of people waiting to climb the tower. Tea, coffee and cake were served in the church. The bellringers rang a half-muffled quarter peal to mark Remembrance Sunday and also rang during the Cavalcade of Light celebrations in November.

The aim of the team was to host fellowship meals as well as social and fundraising events and, throughout the year, to provide refreshments for any celebratory church services.

Lent lunches were held in the Parish Centre on the first Saturday in Lent and the Saturday before Holy week. They were open to anyone who would like to attend, to share in Lenten fellowship, a simple meal of soup, bread and cheese with the proceeds supporting the Bishop of Chelmsford's Lent Appeal.

In January we had the Burns Luncheon; in February - a Valentines High Tea, both very well supported and always much enjoyed by all. A Harvest Lunch was held on Saturday 4th October and Friday 28th November was the traditional Cavalcade of Light with the church decorated with real trees plus much needed new soft white lights; both trees and lights having been generously donated by church members. This evening continues to be one of the favourite events for the people of Waltham Abbey with families meeting up within the church, enjoying refreshments made by the team.

Saturday 20th December was a very busy, much enjoyed day and evening, as during the day we hosted and catered a full Christmas lunch for 65 people, followed by the Songbirds, once again, giving a concert of Christmas Music by Candlelight in the church and, again, so generously giving their time and talent freely to help towards fundraising.

There are no membership requirements to being part of this team and it has been wonderful to now have some new members. Please do not hesitate to join us if you would like to be part of the team, because it is, in itself, a way to get to know people better and enjoy the friendship and laughter that is shared when we are hosting any of the events.

Page 2

WALTHAM ABBEY PCC

REPORT OF THE TRUSTEES for the year ended 31 December 2025

OBJECTIVES AND ACTIVITIES

Working with Other Charities

During Lent donations were invited online or by bank transfer to the Bishop of Chelmsford's Lent Appeal 2025, supporting the Christian charity Housing Justice in their work across England and Wales to alleviate homelessness. In response to Christian Aid's Myanmar Crisis Appeal, following the 7.7 magnitude earthquake that struck central Myanmar on 28th March, donations were invited by envelope or online or by phone; £65 in cash donations, all of which was gift-aided, was remitted to Christian Aid.

At the Harvest Festival service on Sunday 5th October gifts of non-perishable food and toiletries were donated to 3Food4U, the community support initiative based in Sun Street, Waltham Abbey. During Advent, donations were invited to Christian Aid's Christmas Appeal, "No crib for a bed ... when you're fleeing violence".

Six walkers took part in The Friends of Essex Churches Ride and Stride on 14th September. £500 was collected in sponsorship, half of which (£250) went to The Friends of Essex Churches and half to the Abbey Church.

Music Department Report

The Abbey Choir sang at three Sunday morning Eucharists and two Choral Evensongs each month except when in recess, along with Principal Feasts and Holy Days. The singers have coped admirably with low numbers, indeed an ensemble of one singer per voice part is ideal for certain music, though occasionally in cases of unforeseen absence it has been necessary to hire in an additional voice or otherwise cancel carefully rehearsed music. (It is fortunate in the circumstances that the current Director of Music is able and willing to sing either alto or bass at the same time as conducting and/or accompanying. The appointment of an Assistant Organist remains the ideal but is not actively being pursued for financial reasons.)

The choir gained a bass singer at the start of the year, a former boy chorister who rejoined the choir upon relocating back to Waltham Abbey. It also lost a soprano very tragically and suddenly; Andrada Short, wife and daughter-in-law respectively of long-standing choir members James and David Short, died soon after childbirth. An expanded choir of ex-members and other friends was convened for the funeral and subsequently for that of Barbara Utting, widow of Keith, both also long-standing choir members in the past.

The 'relaxed choir', known as the ‘Yeager-bombers’, started in 2024 for adults of all musical abilities and none, is evidently much appreciated both as an adjunct to worship and a social activity for its members. It has taken ownership of service music on third Sundays of the month (at which there had been no choir since the disbanding of the Abbey Choristers), and also sang at the 2025 Easter Eve Vigil service in the Abbey for the Epping Forest Deanery, and joined the main choir for Ascension Day.

During the summer term, a project entitled Sing a New Song was launched jointly with the Parish of St John the Baptist, Loughton and with funding from the Diocese of Chelmsford. The objective was to run a children's singing club in each church, as a weekly activity for children of school years 3 and upwards regardless of church affiliation, that would in due course form the basis of a children's choir but which would draw people in by offering a fun musical and social experience with no obligation to attend regularly or commit to events. The Loughton group made a promising start with apparently plenty of enjoyment and 'feel good factor' but with very low numbers that never improved, while the sessions in the Abbey entirely failed to attract any participants. With no sign of numbers picking up, and central funding not renewed for 2026 for that reason, the project was discontinued after the last session of the autumn term.

Music for Lunch recitals on Saturdays at 12 noon continued to draw good audience numbers while offering a satisfying experience for the (unremunerated) performers. The kind co-operation of the Professional Placements department at Trinity Laban Conservatoire is once again acknowledged. Concerts in aid of parish funds were given by international pianist Flavio Varani and by local vocal group The Songbirds.

Page 3

WALTHAM ABBEY PCC

REPORT OF THE TRUSTEES

for the year ended 31 December 2025

OBJECTIVES AND ACTIVITIES

No less than three commercial recordings made in the Abbey Church and featuring the new organ were released during the year: an album of music for trumpet and organ recorded in January for the Chandos label, a choral album by internationally renowned group Siglo de Oro recorded in 2024, and a series of short films of the Bible Songs of Stanford, sung by former Assistant Organist Laurence Williams with Director of Music Jonathan Lilley at the organ, also filmed in 2024. Recordings such as these help in a modest way to 'put Waltham Abbey on the map' as a musical place, and bring in revenue in hire fees.

FINANCIAL REVIEW

Financial position

The accompanying financial statements provide details of the PCC's financial position incorporating activities of the Abbey Church, St Lawrence Church and the St Lawrence Church Pre-School.

Total income to General funds in 2025, was £185,152 (2024: £186,336) with £165,270 related to the Abbey (2024: £166,668) and £19,882 (2024 £19,667) related to St Lawrence church. General expenditure was £186,316 (2024: £176,652). £168,382 of 2025 general expenditure relates to the Abbey and £17,934 to St Lawrence

Total income to restricted funds was £123,629 (2024: £119,610) of which £101,683 (2024: £85,734) related to St Lawrence pre-school, and total expenditure from restricted funds £112,232 with £80,434 (2024: £82,236) related to the pre-school, and £27,395 (2024: £21,691) from the Abbey Fabric Fund.

The Abbey Church General Fund finished the year at just over £28k: very slightly more than it started, once transfers between funds are taken into account (Tithe Chancel contribution to insurance and admin charges on other funds). However this was despite receiving an £11k legacy during the year, without which there would have been a significant shortfall. We had budgeted for about £5k deficit with the expectation of carrying out outstanding work at the Abbey Church Centre and Abbey Gardens House. Some of this, notably retiling the roof at Abbey Gardens House, has taken place, but other work is needed at both buildings.

Income was a general concern. In particular, fee income from weddings and funerals was markedly lower than the previous year (fee income appears to be higher so far in 2026). General hall lettings were also less following school holiday club lettings in 2024, although largely compensated through increased hires from LVRPA.

Abbey Church Fabric Fund expenditure included general maintenance tasks, replacement of boiler fans and a mould survey in the crypt. It also contributed to a report on the “Children’s window” supported by a donation from the Theydon Bois Arts Society. The cost of the 2025 clearance of the Crypt is included in the 2025 accounts, although the full cost was met in early 2026 by a donation from the Friends of Waltham Abbey Church.

At St Lawrence Church expenditure included payment to Hillhouse School for a replacement door and window installed when the other school doors and windows were replaced, as well as more regular costs. Income (which is mainly derived from congregational giving with a small amount of fundraising) still exceeded expenditure by nearly £2k.

Pre-school income increased significantly in 2025, largely related to increased income from places funded by Essex County Council. That, coupled with slightly reduced expenditure (mainly reduced staffing during the autumn term), has resulted in a £21k surplus of income over expenditure. That builds on the slight surplus made the previous year and restores pre-school funds to a level close to that of 3-4 years ago, albeit still somewhat below the levels prior to the Covid pandemic.

Reserves

The Abbey DCC agreed in January 2025 the principle of maintaining a minimum level of available reserves in the Abbey General fund sufficient to meet one month’s general expenditure (a slight increase on the previous policy). That would be about £14k based on 2025 expenditure. The Abbey General fund stood at £28,006 at the end of 2025: about twice the agreed reserve level, but with about £3k held as equipment. This left about £11k of available funds above the reserve level, of which nearly £5k was identified in January 2026 to support the 2026 General Fund budget, including some provision to address outstanding maintenance at the Abbey Church Centre and Abbey Gardens House, leaving about £6k unallocated reserves. There are likely to be calls on that to further address the backlog of maintenance work or to address other projects, but proposals would be brought back for a decision if and when specific projects are more fully identified.

St Lawrence Church funds stood at £11,823 at the end of 2025 and pre-school funds at £51,576

Page 4

WALTHAM ABBEY PCC

REPORT OF THE TRUSTEES for the year ended 31 December 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

GOVERNANCE

The Parochial Church Council is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The PCC is a Registered Charity

In 2007 the Annual Parochial Church Meeting approved a Scheme for Separate Representation of Congregations and Establishing District Church Council (The Parish Scheme) established under rule 18 of the Church Representation Rules which took effect from 2008. Under the Parish Scheme the PCC operates through two District Church Councils (DCCs), one for the Abbey Church and one for St Lawrence Church, Ninefields, and delegates to the relevant DCC many of its functions.

Safeguarding

The Parochial Church Council has complied with its duty under Section 5 of the Safeguarding and Clergy Discipline Measure 2016 and is committed to the safeguarding, care and nurture of everyone within our community, by:

Promoting safer church posters with contact information for safeguarding incidents and queries are displayed in the parish church centre and lobby, the church porch, the public toilets and vestries, as well as displaying the safeguarding five standards.

There has been one safeguarding report registered in 2025.

All PCC members hold a current DBS, with the exception of one who will not be standing from May 2026. Emails will be sent to those that require a renewal of the three-yearly cycle of DBS checks and training. Training for the Friends of Waltham Abbey, some volunteers from the Olive Branch, and the bell tower ringers has all been completed. The listening team will be regularly active again with DBSs carried out and relevant training in the early part of 2026.

Details of training courses completed must be sent to the Parish Safeguarding Officer to maintain correct records, To access training please follow the links below:

https://www.chelmsford.anglican.org/safeguarding/safeguarding-training/church-of-england-safeguarding-courses Any member of the congregation requiring help to access online training should contact the Parish Safeguarding Officer who thanks all who have co-operated in carrying out training & DBS requirements.

The introduction of the Safeguarding Dashboard has been a very much welcome tool, giving much needed support and notes for the tasks that need to be carried out by the safeguarding officer.

Page 5

WALTHAM ABBEY PCC

REPORT OF THE TRUSTEES for the year ended 31 December 2025

Levels 1&2 are being worked through, looking at policies and action plans, safeguarding procedures, safeguarding roles, correctly displayed information in church and other related buildings, church activities working with children and vulnerable adults, the training required, the safer recruitment, the support the groups need and those attending the groups and reviews and reports.

PCC Members as Trustees

For the purposes of the financial statements the PCC Members, including the Incumbent and Wardens, are the Trustees of the charity and the terms PCC Members and Trustees may be used interchangeably.

Health and Safety Report

The DCC agreed that an Emergency First Aid Course be organised in 2026 which will be opened to Church Personnel and if there are spare places also to members of the regular congregation. This will ensure that people are available if there is an incident.

Fire Risk Assessments had their required yearly review and items updated where necessary and signed off by the DCC.

General Risk Assessments have been reviewed and updated where necessary and a Church evacuation drill will be organised in 2026.

Fire Extinguisher monthly and yearly checks have been completed as well as the two yearly PAT test on mobile electrical equipment.

The church monthly cleans have been arranged and completed by volunteers and the DCC is grateful for the time given by them to complete this.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

1129915

Principal address

Parish Office, Abbey Church Centre Abbey Gardens Waltham Abbey Essex EN9 1XQ

Page 6

WALTHAM ABBEY PCC

REPORT OF THE TRUSTEES for the year ended 31 December 2025

Trustees

Waltham Abbey PCC

The PCC is committed to Safeguarding children, young people and vulnerable adults and has adopted the Church of England's policies and best practice on Safeguarding which may be found on the Church of England website and also on the Diocese of Chelmsford website. The Parish Safeguarding Officer can be contacted via the parish office.

The PCC, as a registered charity, confirms that the major risks to which it may be exposed, have been identified and reviewed and systems and procedures put in place to manage any such risks.

Members of the PCC are either ex-officio, elected by the Annual Parochial Church Meeting or co-opted to serve; in accordance with the Church Representation Rules.

Members who served from 1st January 2025 to the date this report Members who served from 1st January 2025 to the date this report was approved are:
Team Rector Reverend Peter Smith Chairman
Associate Priest Reverend Trevor Scott
Churchwardens Linda Anderson
Deanery Synod Reps Jane Shipman Treasurer
Elected Members Sheila Pearce St Lawrence
Valerie Lee St Lawrence
Rachel Matthews
Richard Walters (Until May 2025)
Mark Anderson
Carol Green
Denise Swaby (Until May 2025)
Carol Harper (Unitl May 2025)
Matthew Lloyd
Jemma Carnegie
Sarah Redman
Co-opted Judith Meaden Secretary

Standing Committee:

This is the only committee required by law and it has the power to transact the business of the PCC between meetings, subject to any directions given by the Council.

Business Transacted at the meetings held in 2025 by the PCC included:-

Receiving Church news from both the Abbey Church and St Lawrence; receiving updates on Diocesan Synod and Deanery Synod; the appointment of Eucharistic Ministers under new Regulations; adoption of required Safeguarding Policies and dissemination of training and responses required; receiving financial reports and updates as necessary; appointment of Sides-persons to the Abbey Church; considering the current position of the Patronage Board; notification of the urgent repair works required to the Rectory, the Rector having to move out for the duration; discussions regarding holding 'Sound Bath' events in the church and specialist lighting provision for large events being held.

Page 7

WALTHAM ABBEY PCC

REPORT OF THE TRUSTEES for the year ended 31 December 2025

DISTRICT CHURCH COUNCILS

Waltham Abbey Church DCC

Under the Parish Scheme all other Clerks in Holy Orders beneficed in or licensed to the Parish and the District Churchwardens for St. Lawrence Church are also ex-officio members of the Abbey DCC (although the District Wardens do not have voting rights); however, in practice these members do not serve.

Members who served from 1st January to December 2025 to the date this report was approved are:

Team Rector Reverend Peter Smith (Chairman)
Clergy Reverend Trevor Scott
Churchwardens Linda Anderson
Deanery Synod Representative Jane Shipman
Elected PCC Representatives Rachel Matthews Sarah Redman
Mark Anderson Carol Green
Jemma Carnegie Matthew Lloyd
Elected DCC Representatives Amanda Beggs Caroline Moores
James Short Laura MacNeill
Abena Ofusu-Adu Christopher Theokli (Until Jule 25)
Christopher Frostick Jane Hudson
Richard Walters
Co-opted Lynda Beggs (Secretary)

The Abbey Church DCC has sub-groups to carry out a large part of its business which are as follows, their remit being covered by the sub-group title:

Concerts and Musical Activities, Properties and Fabric, Mission and Outreach, Children's Youth, Publicity and Communications, Pastoral, Social and Fundraising, Stewardship and Footprint. These sub-groups were reviewed on 14.09.2025 and from this date are Standing Committee, Fabric and Property Maintenance, Publicity and Communications, Social and Fundraising and Footprint.

The Abbey DCC met 4 times during 2025 in January, February, July and September with the Standing Committee meeting in September and November.

Business transacted during 2025 by the DCC included:

Page 8

WALTHAM ABBEY PCC

REPORT OF THE TRUSTEES for the year ended 31 December 2025

St Lawrence Church District Council

We seek to be a living and loving church, where all are made welcome in a setting where worship is a priority and each person, knowing they are in the presence of God, feels safe and wanted. A service of Holy Communion is held most Sunday mornings and this has incorporated a café-style format on a number of occasions.

Once again St Lawrence joined with the Church at St Thomas to celebrate Christmas Eve and Christmas Day. The DCC were able to meet four times this year.

The church is actively involved with weekly Act of Collective Worship at Hillhouse School. The Church is involved in many of their different activities including attending for a day to teach the children about the Easter Experience. St Lawrence Church Pre-School is regularly attended by the clergy. The Congregation after Sunday Service were invited to view the Pre-School Children's Nativity on video.

During the last year social and fund-raising events include:

Members of the DCC are either ex-officio or elected at the Annual District Church meeting in accordance with the Parish Scheme or co-opted by the DCC in accordance with that Scheme. The DCC met four times. Members who served from 1st January, 2025 to the date this report was approved are:

Team Rector The Revd Peter Smith Chairman
The Revd Jane Begley
Churchwarden Vacant
Deanery Synod Vacant
Elected PCC Valerie Lee
Representatives Sheila Pearce Secretary
Elected DCC Sheila Pearce
Representatives Joan O'Mullane
Jill Talbot Treasurer
Beryl Thorpe
Julie Stannard
Theresa Catlin

Page 9

WALTHAM ABBEY PCC

REPORT OF THE TRUSTEES for the year ended 31 December 2025

CHURCH ATTENDANCE

New Electoral Rolls were completed in 2025 as required every six years. There were 137 members on the Rolls; there being 111 for the Abbey Church and 26 for St Lawrence Church.

In the previous year, there had been 163 members; 138 for the Abbey and 25 for St Lawrence.

The average Sunday service attendance at St Lawrence 2025 was adults 23 and no children. At St Lawrence the number attending worship on Easter Sunday was 23 adults and no children.

In 2025, there were six weddings; twenty-two funerals were taken in the church and thirteen funerals were taken at Crematoriums or graveside. There were three Committals or Burials when a service was not conducted. There were thirteen baptisms during the year, seven infants under one year, five children between the age of one and five and one adult.

The Waltham Abbey branch of the Mothers' Union again gave bibles suitable for the age to the youngsters and a suitable book of prayers to the adult.

In the Abbey Church, 246 attended Easter services with 181 being Communicants and 579 attended services on Christmas Eve and Christmas Day with 181 Communicants.

The average attendance at services held at the Abbey Church during October 2025 was 83 people.

The average Worshipping community for the Abbey Church was ninety-nine members being 18+ and fifteen members aged 17 and under.

Independent Examiner

Mr Christopher Marsh FMAAT Marsh Solutions Limited 82 Berechurch Hall Road Colchester Essex CO2 8RF

01/05/2026

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

Rev P Smith Rev P Smith (May 1, 2026 11:24:46 GMT+1)

.................................................................... Revd P Smith - Trustee

Page 10

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WALTHAM ABBEY PCC

Independent examiner's report to the trustees of Waltham Abbey PCC

I report to the charity trustees on my examination of the accounts of Waltham Abbey PCC (the Trust) for the year ended 31 December 2025.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Accounting Technicians, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mr Christopher Marsh FMAAT The Association of Accounting Technicians

Marsh Solutions Limited 82 Berechurch Hall Road Colchester Essex CO2 8RF 05/05/2026 Date: .............................................

Page 11

WALTHAM ABBEY PCC

STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 31 December 2025

Unrestricted
funds
Notes
£
INCOME AND
ENDOWMENTS FROM
Donations and legacies
112,649
Charitable activities
Charitable activities
28,522
Other trading activities
2
19,746
Investment income
3
24,235
Total
185,152
EXPENDITURE ON
Raising funds
1,828
Charitable activities
Charitable activities
183,852
Other
636
Total
186,316
Net gains/(losses) on
investments
-
NET
INCOME/(EXPENDITURE)
(1,164)
Transfers between funds
11
3,076
Net movement in funds
1,912
RECONCILIATION OF
FUNDS
Total funds brought forward
37,431
TOTAL FUNDS CARRIED
FORWARD
39,343		 Restricted
Endowment
funds
funds
£
£
1,240
-
102,753
-
600
-
19,036
446
123,629
446
-
-
112,232
1,212
-
-
112,232
1,212
(836)
(543)
10,561
(1,309)
(850)
(2,226)
9,711
(3,535)
473,992
395,680
483,703
392,145		 31.12.25
31.12.24
Total
Total
funds
funds
£
£
113,889
112,893
131,275
126,047
20,346
23,818
43,717
43,655
309,227
306,413
1,828
2,025
297,296
282,986
636
-
299,760
285,011
(1,379)
513
8,088
21,915
-
-
8,088
21,915
907,103
885,188
915,191
907,103

The notes form part of these financial statements

Page 12

WALTHAM ABBEY PCC

BALANCE SHEET 31 December 2025

Notes
FIXED ASSETS
Tangible assets
7
CURRENT ASSETS
Debtors
8
Investments
9
Cash at bank
CREDITORS
Amounts falling due within one
year
10
NET CURRENT ASSETS
TOTAL ASSETS LESS
CURRENT LIABILITIES
NET ASSETS
FUNDS
11
Unrestricted funds
Restricted funds
Endowment funds
TOTAL FUNDS		 Unrestricted
funds

£
2,932
6,395
7,753
31,416
45,564
(9,153)
36,411
39,343
39,343		 Restricted
funds
£
387
7,352
438,214
55,162
500,728
(17,412)
483,316
483,703
483,703		 Endowment
funds
£
376,972
-
15,173
-
15,173
-
15,173
392,145
392,145		 31.12.25
Total
funds
£
380,291
13,747
461,140
86,578
561,465
(26,565)
534,900
915,191
915,191
39,343
483,703
392,145
915,191		 31.12.24
Total
funds
£
383,798
17,769
467,273
49,918
534,960
(11,655)
523,306
907,104
907,104
37,431
473,992
395,680
907,103

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 01/05/2026

Rev P Smith

Rev P Smith (May 1, 2026 11:24:46 GMT+1) ............................................. P Smith - Trustee

The notes form part of these financial statements

Page 13

WALTHAM ABBEY PCC

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements and assessment of going concern

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.

The financial statements are presented in sterling (£).

Critical accounting judgements and key sources of estimation uncertainty

In preparing financial statements it is necessary to make certain judgements, estimated and assumptions that affect the amounts recognised in the financial statements. The following judgements and estimates are considered by the trustees to have most significant effect on amounts recognised in the financial statements.

Useful economic life of tangible fixed assets:

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

Income

Voluntary income and capital sources

Collections are recognised when received by or on behalf of the PCC. Planned giving receivable under Gift Aid is recognised only when received. Income tax recoverable on Gift Aid donations is recognised when the gift is received.

Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is reasonably certain.

Other ordinary income

Rental income from the letting of church premises is recognised when the rental is due.

Income from investments

Dividends are accounted for when due and payable. Interest entitlements are accounted for as they accrue. Tax recoverable on such income is recognised in the same accounting year.

Gains and losses on investments

Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments at 31 December.

Expenditure

Activities directly relating to the work of the church

The Diocesan Parish Share is accounted for when paid. Any parish share unpaid at 31 December is provided for in these accounts as an operational (though not a legal) liability and is shown as a liability in the balance sheet. The Parish Share was paid in full in the year.

continued...

Page 14

WALTHAM ABBEY PCC

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2025

1. ACCOUNTING POLICIES - continued

Tangible fixed assets

Consecrated land and buildings and movable church furnishings

Consecrated and beneficed property is excluded from the accounts in accordance with Charities Act 2011.

Movable church furnishings held by the Rector and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted as inalienable property unless consecrated. They are listed in the church's Inventory, which may be inspected at any reasonable time. For inalienable property acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the accounts. Items acquired since 1 January 2000 have been capitalised and depreciated in the accounts over their currently anticipated useful economic life on a straight-line basis.

All expenditure incurred in the year on consecrated or beneficed buildings, individual items under £1,000 or on the repair of moveable church furnishings acquired before 1 January 2000 is written off.

Other fixtures, fittings and office equipment

Equipment used within the church premises is depreciated on a straight-line basis over ten years. Individual items of equipment with a purchase price less than £1,000 are written off when the asset is acquired.

Investments

Investments are valued at market value at 31 December.

Current assets

Amounts owing to the PCC at 31 December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectable.

Short-term deposits include cash held on deposit with the Central Board of Finance of the Church of England, the Chelmsford Diocesan Board of Finance and COIF Charity Funds.

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount.

Debtors

Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand includes cash, current bank accounts and deposit bank accounts with no withdrawal limitations.

Financial Instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Fund accounting

General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application to the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted.

The accounts include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor those that are informal gatherings of church members.

continued...

Page 15

WALTHAM ABBEY PCC

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2025

2. OTHER TRADING ACTIVITIES

3.

31.12.25 31.12.24
Unrestricted Restricted Endowment
Total		 Total
funds funds funds funds funds
£ £ £ £ £
Church hall lettings etc 1,896 - - 1,896 5,647
External concerts 4,681 - - 4,681 6,073
Internal concerts 4,131 - - 4,131 4,028
Other fund raising 9,038 600 - 9,638 8,070
19,746 600 - 20,346 23,818
INVESTMENT INCOME
31.12.25 31.12.24
Unrestricted Restricted Endowment
Total		 Total
funds funds funds funds funds
£ £ £ £ £
Rents 24,097 - - 24,097 20,892
Dividends - 488 446 934 942
Interest 138 18,548 - 18,686 21,821
24,235 19,036 446 43,717 43,655

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024.

Trustees' expenses

PCC members' expenses

Rev T Scott
Expenses
Rev P Smith
Expenses
J Meaden
Expenses
L Anderson
Fundraising Expenses		 31.12.25
£
447
1,992
159
1,183		 31.12.24
£
521
1,408
87
821

All expenses are repayments of costs incurred directly on behalf of the PCC and are allocated appropriately within the expenditure.

continued...

Page 16

WALTHAM ABBEY PCC

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2025

5. STAFF COSTS

Salaries and wages

Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
All staff		 31.12.25
£
123,765
4,948
1,802
130,515
31.12.25
5		 31.12.24
£
122,543
2,670
1,577
126,820
31.12.24
5

No employees received emoluments in excess of £60,000.

6.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
Endowment
funds
funds
funds
£
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
102,484
10,409
-
Charitable activities
Charitable activities
38,979
87,068
-
Other trading activities
23,818
-
-
Investment income
21,055
22,133
467
Total
186,336
119,610
467
EXPENDITURE ON
Raising funds
2,025
-
-
Charitable activities
Charitable activities
174,627
107,146
1,212
Other
-
-
-
Total
176,652
107,146
1,212
Net gains on investments
-
386
127
NET INCOME/(EXPENDITURE)
9,684
12,850
(618)
Transfers between funds
1,000
(1,000)
-
Net movement in funds
10,684
11,850
(618)
RECONCILIATION OF FUNDS
Total funds brought forward
26,748
462,142
396,298
TOTAL FUNDS CARRIED FORWARD
37,432
473,992
395,680		 Total
funds
£
112,893
126,047
23,818
43,655
306,413
2,025
282,985
-
285,010
513
21,916
-
21,916
885,188
907,104

continued...

Page 17

WALTHAM ABBEY PCC

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2025

7. TANGIBLE FIXED ASSETS

Freehold
Land &
Leasehold
Buildings
Buildings
£
£
COST
At 1 January 2025 and 31 December 2025
280,000
120,000
DEPRECIATION
At 1 January 2025
-
21,816
Charge for year
-
1,212
At 31 December 2025
-
23,028
NET BOOK VALUE
At 31 December 2025
280,000
96,972
At 31 December 2024
280,000
98,184
8.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Prepayments and accrued income
Prepayments
9.
CURRENT ASSET INVESTMENTS
COIF Charity Funds
Methodist Holiday Hotels Ltd
Central Board of Finance of the Church of England
Chelmsford Diocesan Board of Finance		 Equipment
£
58,817
53,203
2,295
55,498
3,319
5,614
31.12.25
£
7,513
6,234
13,747
31.12.25
£
16,629
1,124
428,214
15,173
461,140		 Totals
£
458,817
75,019
3,507
78,526
380,291
383,798
31.12.24
£
11,966
5,803
17,769
31.12.24
£
17,465
1,124
431,188
17,496
467,273

The charity holds 860.65 COIF Charity Funds shares which are valued at 1,932.19 pence per share (2024: 2,029.33 pence per share)

The 1,124 shares in Methodist Holiday Hotels Ltd are valued at par (2024: par).

continued...

Page 18

WALTHAM ABBEY PCC

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2025

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25 31.12.24
£ £
Trade creditors 541 1,098
Taxation and social security 2,556 1,405
Other creditors 23,468 9,152
26,565 11,655

11. MOVEMENT IN FUNDS

Unrestricted funds
Waltham Abbey - General fund
St Lawrence - General Fund
Restricted funds
Fabric Fund
Organ Fund
Organ Scholarship Fund
Youth Work (Leadbetter)
St Lawrence - Projects
St Lawrence Pre-School
Bruton Fund
Endowment funds
Tithe Chancel
Freehold Land & Buildings
Leasehold Buildings
TOTAL FUNDS		 At 1.1.25
£
27,891
9,540
37,431
395,370
7,859
2,485
27,615
486
30,177
10,000
473,992
17,496
280,000
98,184
395,680
907,104		 Net
movement
in funds
£
(3,111)
1,947
(1,164)
(10,092)
(1,900)
108
1,196
-
21,249
-
10,561
(97)
-
(1,212)
(1,309)
8,087		 Transfers
between
funds
£
3,226
(150)
3,076
(873)
(102)
(2)
(23)
-
150
-
(850)
(2,226)
-
-
(2,226)
-		 At
31.12.25
£
28,006
11,337
39,343
384,405
5,857
2,591
28,788
486
51,576
10,000
483,703
15,173
280,000
96,972
392,145
915,191

continued...

Page 19

WALTHAM ABBEY PCC

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2025

11. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
Waltham Abbey - General fund
St Lawrence - General Fund
Restricted funds
Fabric Fund
Organ Fund
Organ Scholarship Fund
Youth Work (Leadbetter)
St Lawrence Pre-School
Endowment funds
Tithe Chancel
Leasehold Buildings
TOTAL FUNDS		 Incoming
resources
£
165,270
19,882
185,152
18,139
2,490
108
1,209
101,683
123,629
446
-
446
309,227		 Resources
expended
£
(168,381)
(17,935)
(186,316)
(27,395)
(4,390)
-
(13)
(80,434)
(112,232)
-
(1,212)
(1,212)
(299,761)		 Gains and
Movement
losses
in funds
£
£
-
(3,111)
-
1,947
-
(1,164)
(836)
(10,092)
-
(1,900)
-
108
-
1,196
-
21,249
(836)
10,561
(543)
(97)
-
(1,212)
(543)
(1,309)
(1,379)
8,087

continued...

Page 20

WALTHAM ABBEY PCC

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2025

11. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
Waltham Abbey - General fund
St Lawrence - General Fund
Restricted funds
Fabric Fund
Organ Fund
Organ Scholarship Fund
Youth Work (Leadbetter)
St Lawrence - Projects
St Lawrence Pre-School
Bruton Fund
Endowment funds
Tithe Chancel
Freehold Land & Buildings
Leasehold Buildings
TOTAL FUNDS		 At 1.1.24
£
20,878
5,870
26,748
388,477
7,824
2,365
26,311
486
26,679
10,000
462,142
16,902
280,000
99,396
396,298
885,188		 Net
movement
in funds
£
6,013
3,670
9,683
7,767
132
122
1,331
-
3,498
-
12,850
594
-
(1,212)
(618)
21,915		 Transfers
between
funds
£
1,000
-
1,000
(874)
(97)
(2)
(27)
-
-
-
(1,000)
-
-
-
-
-		 At
31.12.24
£
27,891
9,540
37,431
395,370
7,859
2,485
27,615
486
30,177
10,000
473,992
17,496
280,000
98,184
395,680
907,103

continued...

Page 21

WALTHAM ABBEY PCC

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2025

11. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
Waltham Abbey - General fund
St Lawrence - General Fund
Restricted funds
Fabric Fund
Organ Fund
Organ Scholarship Fund
Youth Work (Leadbetter)
St Lawrence Pre-School
Endowment funds
Tithe Chancel
Leasehold Buildings
TOTAL FUNDS		 Incoming
resources
£
166,665
19,668
186,333
29,072
3,319
122
1,363
85,734
119,610
467
-
467
306,410		 Resources
expended
£
(160,655)
(15,998)
(176,653)
(21,691)
(3,187)
-
(32)
(82,236)
(107,146)
-
(1,212)
(1,212)
(285,011)		 Gains and
Movement
losses
in funds
£
£
-
6,013
-
3,670
-
9,683
386
7,767
-
132
-
122
-
1,331
-
3,498
386
12,850
127
594
-
(1,212)
127
(618)
513
21,915

continued...

Page 22

WALTHAM ABBEY PCC

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2025

11. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
Waltham Abbey - General fund
St Lawrence - General Fund
Restricted funds
Fabric Fund
Organ Fund
Organ Scholarship Fund
Youth Work (Leadbetter)
St Lawrence - Projects
St Lawrence Pre-School
Bruton Fund
Endowment funds
Tithe Chancel
Freehold Land & Buildings
Leasehold Buildings
TOTAL FUNDS		 At 1.1.24
£
20,878
5,870
26,748
388,477
7,824
2,365
26,311
486
26,679
10,000
462,142
16,902
280,000
99,396
396,298
885,188		 Net
movement
in funds
£
2,899
5,620
8,519
(2,325)
(1,768)
230
2,527
-
24,747
-
23,411
497
-
(2,424)
(1,927)
30,003		 Transfers
between
funds
£
4,226
(150)
4,076
(1,747)
(199)
(4)
(50)
-
150
-
(1,850)
(2,226)
-
-
(2,226)
-		 At
31.12.25
£
28,003
11,340
39,343
384,405
5,857
2,591
28,788
486
51,576
10,000
483,703
15,173
280,000
96,972
392,145
915,191

continued...

Page 23

WALTHAM ABBEY PCC

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2025

11. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
Waltham Abbey - General fund
St Lawrence - General Fund
Restricted funds
Fabric Fund
Organ Fund
Organ Scholarship Fund
Youth Work (Leadbetter)
St Lawrence Pre-School
Endowment funds
Tithe Chancel
Leasehold Buildings
TOTAL FUNDS		 Incoming
resources
£
331,935
39,550
371,485
47,211
5,809
230
2,572
187,417
243,239
913
-
913
615,637		 Resources
expended
£
(329,036)
(33,930)
(362,966)
(49,086)
(7,577)
-
(45)
(162,670)
(219,378)
1
(2,424)
(2,423)
(584,767)		 Gains and
Movement
losses
in funds
£
£
-
2,899
-
5,620
-
8,519
(450)
(2,325)
-
(1,768)
-
230
-
2,527
-
24,747
(450)
23,411
(417)
497
-
(2,424)
(417)
(1,927)
(867)
30,003

DETAILS OF RESTRICTED FUNDS

Restricted funds are listed in the note above, and may be used only for the purposes inherent in their titles.

DETAIL OF ENDOWMENT FUNDS

Tithe Chancel Custodian Trustee Chelmsford Diocesan Board of Finance Managing Trustee Waltham Abbey PCC Object The income may be used for chancel repairs or general fire insurance of the whole church building.

Land & Buildings

Land and Buildings comprises Abbey Gardens House. This property was valued on 28 January 1999 by Michael Adkins of J B Property Services. The valuations represented the asking price on the private treaty market. The PCC considers it inappropriate to incur expenditure on new valuations.

The St Lawrence Church building is in the freehold of the Diocese of Chelmsford and is not capitalised.

During the year ended 31 December 2007 the PCC purchased a lease for a period of 99 years for the Church Centre.

continued...

Page 24

WALTHAM ABBEY PCC

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2025

12. COMMITMENTS

The PCC has a liability to carry out a range of repairs to the church building over the next five years as identified in the quinquennial report. Our Architect, Sherry Bates, has outlined an ambitious and thorough proposal for wrapping all the Category 1 and Category 2 recommendations in the report, provision for these plans has not been made in these financial statements as they are still in the preliminary stages. General repairs are ongoing.

13. RELATED PARTY DISCLOSURES

PCC members' related parties remuneration

C Anderson
Expenses
M Meaden
Remuneration
J Walters
Expenses		 31.12.25
£
199
3,654
-		 31.12.24
£
184
4,020
289

14. MONIES COLLECTED ON BEHALF OF OTHER ORGANISATIONS

During the year the PCC collected wedding and funeral fees on behalf of the Diocese. These amounts have not been included in the Statement of Financial Activities, since the amounts do not belong to the charity. At the year end there was a balance of £541 owing to other organisations, this amount has been included within creditors.

Diocesan fees
Balance brought forward
Wedding and Funeral fees received
Fees remitted to diocese		 £
1,098
15,995
(16,536)
541

15. LOANS OR GUARANTEES SECURED AGAINST ASSETS OF THE PCC

No loans or guarantees have been secured against any assets of the PCC.

16. CONNECTED ORGANISATIONS

The Friends of Waltham Abbey is not technically a Connected Organisation. However the PCC wishes to acknowledge with gratitude rent payments and donations towards the maintenance and heating of the fabric of the church.

Page 25